Benzinga - by Anan Ashraf, Benzinga Editor.
Investment banking firm Roth MKM said on Monday that it continues to be positive on Intuitive Machines (NASDAQ:LUNR) despite its Odysseus lunar lander tipping over on its side on the Moon’s surface.
What Happened: “However, we are encouraged that the lander seems largely operational for power and comms with most of the research payloads still functional,” Roth MKM said while adding that it is positive that the learnings from this mission can help future missions. It maintains a “buy” rating on the Houston-based space exploration company’s stock with a price target of $15.
Intuitive Machines said on Monday that flight control engineers expect to lose contact with Odysseus on Tuesday morning, meaning the lander will spend less time on the surface of the Moon than the previously estimated 7-10 days.
However, on Tuesday morning, the company said that flight controllers continue to communicate with the lander and that they are working on determining the battery life of the lander, which may continue for another 10-20 hours.
Odysseus landed on the moon’s surface on Thursday to become the first U.S. spacecraft to land on the moon after NASA’s last crewed Apollo mission of 1972. But the sideways landing meant the lander’s solar panels would receive less sunlight, subsequently impacting its battery recharging capacity and lifetime on the Moon.
Price Action: Intuitive Machine shares rose 6.9% to close at $6.7 on Tuesday, according to data from Benzinga Pro. The stock is up about 184% year-to-date.
Photo: Courtesy of Intuitive Machines
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